ECB official: Tariffs hurt the US more
PANews, February 21—According to Reuters, European Central Bank Governing Council member Panetta stated that the cost of Trump's tariffs is "mainly borne by the United States." While U.S. imports from China have declined, they have shifted to Mexico, Vietnam, and Taiwan. He also mentioned that cheap Chinese imports could accelerate the decline of inflation in the eurozone, and inflation risks remain balanced in both directions.
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